Liverpool owner John W Henry has ridiculed Arsenal's latest bid for striker
Luis Suarez, tweeting: "What do you think they are smoking over there
at Emirates".

Liverpool have turned down Arsenal's latest offer of £40 million - plus a pound - which was made by Gunners chief executive Ivan Gazidis during a telephone conversation with Anfield managing director Ian Ayre.

By exceeding the £40m mark, Arsenal's offer means Liverpool have to inform Suarez of the offer... but it does not trigger a buy-out clause.

&lt;noframe&gt;Twitter: John W. Henry - What do you think they're smoking over there at Emirates?&lt;/noframe&gt;

Uruguay international Suarez is set to make his first appearance for the Reds this summer in today's friendly against Melbourne Victory.

He jetted to Australia on Sunday after being allowed to take extended leave following his involvement with Uruguay in the Confederations Cup.

While he was away, the 26 year-old spoke about the attraction of Real Madrid, and his agent Pere Guardiola has told Liverpool the player wants to play in the Champions League but will not try to force through a move.

Suarez has been frequently linked with Arsenal, whose biggest spend on a player is the £15 million they paid to Zenit St Petersburg for Andrei Arshavin in 2009.

Liverpool have previously turned down a £30m bid from Arsenal, and manager Brendan Rodgers "very much" expects his star man to be with the club come the start of the season.

Rodgers said on Monday: "There's been a lot of speculation over the course of the close season but the reality is that he's a player who is very much valued at Liverpool.

"And unless there's any sort of offer that comes in that's anywhere near his value, there's nothing to consider. We haven't had that."

Asked what that value was, Rodgers said: "I didn't say we would sell him. I said that every player has a value and a worth. Doesn't mean you've got to sell them."